Firmus, an Australian AI data centre infrastructure startup, has raised $2.85 billion in its latest funding round, bringing its total capital raised to over $3 billion in just 12 months. The new round values the company at a staggering $15 billion.
TL;DR
- Firmus raises $2.85 billion in funding, bringing its total capital raised to over $3 billion in 12 months.
- The company is now valued at $15 billion, up from $1.85 billion just 10 months ago.
- Funding will support Project Southgate, a national rollout of AI data centres in Australia and the Asia-Pacific region.
What happened
Firmus, an Australian AI data centre infrastructure startup, has secured $2.85 billion in its latest funding round. This brings the company's total capital raised to over $3 billion in just 12 months, according to SmartCompany.
The round was backed by existing investors Coatue and Nvidia, as well as new equity from Blackstone Tactical Opportunities and other Blackstone vehicles. US quant trading firm Jane Street also participated in the round.
The funding round values Firmus at $15 billion, a significant increase from its $1.85 billion valuation in September 2025. The company was previously valued at $8 billion in April 2026.
The capital raised will be used to support Project Southgate, a national rollout of AI data centres in Australia and the Asia-Pacific region. The project aims to build 'energy-efficient' AI data centres and expand into key markets.
Why it matters
This funding round positions Firmus as a key player in the AI infrastructure space, with a focus on energy-efficient data centres. The company's partnerships with Nvidia, CDC Data Centres, and Megaport further solidify its position in the industry.
The funding will enable Firmus to scale its operations across Australia and expand into the Asia-Pacific region. The company has already announced plans to build a 360-megawatt Nvidia DSX 'AI factory' in Batam, Indonesia.
The investment highlights the growing demand for AI infrastructure and the need for reliable, high-performance compute resources. Firmus' proprietary IP, manufacturing innovation, and repeatable deployment model make it a compelling platform for AI-native companies and enterprise customers.
Key facts
- Firmus raises $2.85 billion in latest funding round.
- Total capital raised by Firmus now exceeds $3 billion in 12 months.
- Company valued at $15 billion post-funding round.
- Project Southgate aims to roll out AI data centres across Australia and the Asia-Pacific region.
- Key investors include Coatue, Nvidia, Blackstone Tactical Opportunities, and Jane Street.
- Firmus plans to build a 360-megawatt Nvidia DSX 'AI factory' in Batam, Indonesia.
- The company was founded in Sydney in 2019 by Oliver Curtis, Tim Rosenfield, and Jonathan Levee.
- Firmus began as a bitcoin miner and has since pivoted to AI data centre infrastructure.
Context
Firmus' rapid growth and significant funding rounds reflect the increasing demand for AI infrastructure and data centre capacity. The company's focus on energy-efficient data centres aligns with the federal government's push for renewable energy investments in the tech sector.
The AI infrastructure market is heating up, with companies like Nvidia and Coatue investing heavily in data centre projects. Firmus' partnerships with these industry leaders position it as a key player in the Asia-Pacific region.
As AI models become larger and more capable, the need for reliable, high-performance compute resources grows. Firmus' proprietary technology and repeatable deployment model make it an attractive platform for AI-native companies and enterprise customers.
